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Watch Reagan Slam Low Taxes for Wealthy; He Raised Taxes 11 Times
- Published_at:2012-12-05
- Category:News & Politics
- Channel:neal rodriguez
- tags:
- description: During a speech in 1985, President Ronald Reagan said that a man who made a six figure income wanted to testify before congress to explain why he thought "paying a smaller tax" than his secretary was wrong. in 2011, President Barack Obama made the same argument about Warren Buffett's secretary. "Just a few moments ago, I told some people inside the building here of a letter that I just received the day before yesterday. It's a letter from a man out here in the country, an executive who's earning in six figures -- well above $100,000 a year. He wrote me in support of the tax plan because he said, ``I am legally able to take advantage of the present tax code -- nothing dishonest, doing what the law prescribes -- and wind up paying a smaller salary than my secretary gets -- or I mean, paying a smaller -- I'm sorry, paying a smaller tax than my secretary pays.'' And he wrote me the letter to tell me he'd like to come to Washington and testify before Congress as to how that's possible for him to do and why it is wrong." The same year, 1985, President Reagan delivered another speech further expounding on the effects of loopholes that allowed the wealthy to pay little to no taxes. President Reagan: "We're going to close the unproductive tax loopholes that have allowed some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying 10 percent of his salary, and that's crazy. It's time we stopped it."
| ranked in date | views | likes | Comments | ranked in country (#position) |
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| 2012-12-07 | 47,428 | 412 | 121 |
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| 2012-12-09 | 70,126 | 537 | 295 |
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| 2012-12-12 | 90,827 | 623 | 381 |
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